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[¶12,233] In the Matter of Roger D. Dyson, Frances Slocum Bank and Trust Company,
Wabash, Indiana, Docket No. 04-070e (7-6-04).
Respondent is prohibited from participating in the conduct of affairs
of, or exercising voting rights, in, any insured institution without
the prior written approval of the FDIC.
[.1] Prohibition, Removal, or SuspensionProhibition FromParticipation in Conduct of Affairs
[.2] Prohibition, Removal, or SuspensionProhibition FromVoting Rights, exercise of
In the Matter of
ROGER D. DYSON,
individually, and as an institution-affiliated party of
FRANCES SLOCUM BANK AND TRUST COMPANY
WABASH, INDIANA
(Insured State Nonmember Bank)
now doing business as
FRANCES SLOCUM BANK AND TRUST COMPANY, NATIONAL ASSOCIATION
WABASH, INDIANA
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-04-070e
Roger D. Dyson ("Respondent") has been advised of the right
to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION
("NOTICE") issued by the Federal Deposit Insurance Corporation
("FDIC") detailing the unsafe or unsound banking practices and
breaches of fiduciary duty for which an ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION ("ORDER") may issue, and has been further
advised of the right to a hearing on the allegations under section 8(e)
of the Federal Deposit Insurance Act ("Act"), 12 U.S.C.
§1818(e), and the FDIC's Rules of Practice and Procedure, 12 C.F.R.
Part 308. Having waived those rights, the Respondent entered into a
STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION ("CONSENT AGREEMENT") with a representative
of the Legal Division of the FDIC, whereby solely for the purpose of
this proceeding and without admitting or denying any unsafe or unsound
banking practices and breaches of fiduciary duty. Respondent consented
to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in unsafe or unsound
banking practices and breaches of fiduciary duty as an
institution-affiliated party of Frances Slocum Bank and Trust Company,
Wabash, Indiana ("Bank") (now doing business as Frances Slocum
Bank and Trust Company, National Association, Wabash, Indiana);
(b) By reason of such practices and breaches, the insured depository
institution has suffered or will probably suffer financial loss or
other damage and the interests of the insured depository institutions'
depositors have been or could be prejudiced; and
(c) Such practices and breaches involve personal dishonesty on the part
of the Respondent or demonstrate the Respondent's willful and/or
continuing disregard for the safety or soundness of the insured
depository institutions.
The FDIC further determined that such practices and breaches
demonstrate the Respondent's unfitness to serve as a director,
officer, person participating in the conduct of the affairs or as an
institution-affiliated party of the Bank, any other insured depository
institution, or any other agency or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Respondent is hereby, without the prior written consent of the
FDIC and the appropriate Federal financial institutions regulatory
agency, as that term is defined in section
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8(e)(7)(D) of the Act, 12 U.S.C. §1818(e)(7)(D), prohibited from:
[.1] (a) participating in any manner in the conduct of the affairs of any
financial institution or organization enumerated in section 8(e)(7)(A)
of the Act, 12 U.S.C. §1818(e)(7)(A);
[.2] (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal Banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. IT IS FURTHER ORDERED that Respondent is prohibited from
seeking or accepting indemnification from any insured depository
institution for any expenses, including attorney's fees and
disbursements incurred by Respondent in connection with this matter.
3. This ORDER will become effective immediately upon issuance. The
provisions of this ORDER will remain effective and enforceable except
to the extent that, and until such time as, any provision of this ORDER
shall have been modified, terminated, suspended, or set aside by the
FDIC.
Pursuant to delegated authority.
Dated this 6th day of July, 2004.